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An Introduction to Procurement Management Using PMI Terminology

The current version (v4, 2008) of the Project Management Body of Knowledge (PMBOK®) has four processes® within the Procurement knowledge area. Version 3 (2004) of the PMBOK had six processes in the Procurement knowledge area. Where did these processes go? Has procurement suddenly become more simplified?

Of course the answer is that nothing has changed in the world of formal Procurement Management. What has changed is PMI’s terminology.

The latest terminology is simpler than in previous versions of the PMBOK® and is more closely aligned with other management activities within the same process groups.